The Origin Of Entrepreneurship: The Origin Of Entrepreneurship

In this section will discuss the origin of entrepreneurs, entrepreneurship, and the last conclusion of whether entrepreneurs are born or created.

The term “entrepreneur” is commonly used in economic matters, in academic, by mass media, and also by working people in their daily interactions. The word entrepreneur is originated from France long before there was a general concept of an entrepreneurial function. The earliest writer to recognize the role of entrepreneurship is Richard Cantillion. The authors provide a mentioned that Cantillion's entrepreneur is someone who engages in exchanges for profit; specifically, he is someone who exercises business judgment in the face of uncertainty. This uncertainty (of future sales prices for goods on their way to final consumption) is rather carefully circumscribed, as Cantillion describes it, entrepreneurs buy at a certain price to sell again

It was the French economist Richard Cantillon (1755) and Jean-Baptise Say (1805), who are reported to have first used the concept of ‘entrepreneur’ asa technical one (Schumpeter, 1951). Cantillon has defined the entrepreneur as the agent whoorganizes factors of production with the intention of producing a new product or service(Schumpeter, 1951). Say (1816) included the concept of leadership, that an entrepreneur isone who brings other people together, in order to produce a useful commodity. Schumpeter defined an entrepreneur as the person who is responsible for putting together all factors ofproduction to make quality products, and hence use the resources in low productivity to highproductivity areas. A person, who can efficiently organize these resources in pursuit of anopportunity to add value, may develop the resources and become successful and hence, an